Commercial Mortgages |
Knowledge Center Articles |
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Multifamily Loan for Life? Program Guidelines
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Program Guidelines |
- Up to 30 year fixed rate terms
- 80% maximum LTV for purchases and debt
refinances
- 75% maximum LTV for cash out refinances
- 1.25 minimum DSCR
- $750,000 minimum loan size with no maximum
- Available in all 50 states
- 90% minimum occupancy
- Loan is non-recourse subject to standard
carveouts
- Interest only available
- Loan is assumable subject to lender approval
- Yield maintenance prepay (step down available
with a premium to the rate)
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Eligible
Property Types |
- Stabilized 5+ unit multifamily, condos,
town homes, co-op, residential/commercial
mixed-use, properties with up to 80% tenant
concentration, Section 8 (tenant based).
Properties with separate tax ids must be
contiguous with no fractured ownership.
- Properties with a HAP contract or other
LURA are eligible subject to additional
underwriting requirements.
- Property with greater than an 80% tenant
concentration (student, military, corporate)
are eligible subject to special risk
underwriting.
- Mobile home parks and manufactured
housing communities with 50 or more pads.
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Documents
Required To Obtain A Quote |
- 2 years and year to date P&Ls for the
subject property
- Current rent roll
- Capital expense summary (if applicable)
- Interior and exterior photos
- Offering memorandum or marketing package
for purchases
- Personal financial statement and
schedule of real estate owned for all key
principals
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Visit Capital Assets,Inc’s home page to learn more about all of our
commercial loans and apartment loans. Capital Assets,Inc is a
commercial real estate finance company
providing commercial real estate loans nationwide. Program availability may vary depending on property
type, state, population, economic conditions,
exposure, and other variables that may
negatively influence risk. Program rates, terms,
and conditions are subject to change without
notice. |
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